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8/20/2010

What it takes to become a good trader

If you are serious about your trading and are not a day trader then you need to build some core skills. If you spend time and effort on building those core skills rather than chasing tips, wasting your time listening to CNBC or spending your time on all tactical things.

Market Timing : This is key to survival in the market. You must have a market timing skill. If you spend 1000 hours researching market timing I can assure you, you will find several workable market timing methods. Your objective is to make money using market timing and not get a Noble prize. Which means you will not find a perfect market timing system, but you can find workable methods.

Swing Trading: Understand and internalize the concept of swing trading. All profitable traders use some kind of swing trading method. Even those who deny that they are swing traders essentially use swing trading but for various reason they might call it some other name. The basic idea behind swing trading is to capture the best part of a move in a stock or any instrument. There are basically few basic types of swing trading methods: breakout, pullback, exhaustion, and anchor points swings. All Swing trading methods have entry rules, exit rules, stops rule, and risk per trade rule. If you spend 1000 hours studying swing trading you would never go hungry in life as long as functioning markets exist.

Vehicle Selection: swing trading method is successful if it is used on right vehicle. Two traders with same swing trading skills can make vastly different amount of money depending on their vehicle selection method. Basic vehicle selection methods are momentum value, and growth. Out of this momentum offers you the biggest opportunity. If you spend 1000 hours understanding momentum and making it work for you I can assure you once every 2 to 3 years you will get an opportunity to make big killing and double, triple or increase your returns five, ten, twenty fold in a short span of time. From time to time magically some markets or sectors go in to extreme momentum phase and if you are a momentum trader, you just get a windfall profit.

Self efficacy beliefs: The most important thing for making all this work is self efficacy beliefs. If you have low self efficacy beliefs, nothing will work for you. If you continuously strive to enhance self efficacy beliefs, everything will work for you. The best way to enhance self efficacy belief is by gaining mastery experience.

All these four core skills building will require you around 2 to 3 years if you are average trader. Most will not survive the first six month. Those who do and persist will find that greater clarity and Aha moments will start happening after that. You will get it by end of a year. The next year will go in perfecting the things for your own style and personality. Then it will become a lifetime skill.

Unless you understand this you will continue to flirt from one guru to another guru, one method to another method, one software to another software, from one scan to another scan, from one newsletter to another newsletter, from one forum to another forum.

The question is are you man enough or women enough to commit that much time to these core issues....

Are you serious about your trading?

If you are serious about your trading and want to build an enduring edge theStockbee Member site might help you. Members tell me they have tried lot of things before coming to my site and it has offered them the most extensive and detailed methods to swing and position trade.

It is only for those who want to develop their own self sufficient trading method. It is not a stock picking service. It is service for you to build your own scans and trading method to have your own daily pick based on your method.

Be warned it will take you time to learn to trade. Learning to trade is difficult art and unless you are willing to spend months or years to perfect your strategy and also develop your mental edge you are unlikely to succeed in this game. Unless you understand that no site, no service, and no mentoring is going to work.

Why traders come to stockbee?

The member site is one of the most recommended site for learning to trade by other traders and bloggers. You will see no advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant twits self promoting the site, no free trial and no tall claims of making you instantly wealthy, and yet the site attracts new members everyday. Members come from all walks of life and all kinds of trading size and trading styles.

You will see that many trading bloggers have been using my market timing methods, scans , stock ranking lists and chart templates. They have developed their own methods based on my methods. Many paid newsletter site recommend my site to their subscriber for learning about trading and market.

Over the years thousands of traders have been members and those who benefited from the learning talk about the site to others or talk about the methods used and that is how new members learn about the site.

What will I learn in the members site?

The members site will give you in depth understanding to develop your own trading method. The emphasis is on making you self sufficient and confident of your own trading method and style.

As a member you will learn the basics of swing trading, momentum investing, growth investing and risk management.

You will learn about Stockbee Trend Intensity Breakouts method that uses momentum based swing trading to find 3 to 5 day swing trades for 8 to 40% profit.

You will learn about Stockbee Episodic Pivots Breakout method which uses Post Earnings Announcement Drift (PEAD) to find stocks that had a game changing earnings and that are likely to rally for 3 months to 12 months.

You will learn about Stockbee Dollar Breakout method that uses momentum, range expansion and swing trading approach to find 5 to 40 dollar moves in high priced stocks.

You will learn about Stockbee Lemonade Strategy for 401k which uses market timing and momentum to invest in 401k. You will get weekly update on how I am using the strategy on our 401k to do allocation decision.

You will learn about Stockbee Market Monitor method for market timing using breadth. It allows you to avoid risky periods in market and allows you to identify market turns. It is used for 401k allocation decisions.

You will learn about Stockbee Double Trouble method to find stock with confirmed upside momentum using anchored momentum and that are likely to continue their up move.

You will learn about Stockbee Night Time is Right Time method to find news catalyst based trade ideas for short term day trade and swing trade.

You will learn about Investor's Business Daily’s IBD 200 list and how it can be used to find swing trading candidates for explosive moves.

You will learn about Telechart 2000 and how to use it effectively to scan for swing and position trade ideas and to set up your 401k strategy.

You will learn about Jesse Livermore Range Breakout, Darvas Box setup, and many other member shared methods.

You will learn how to set up your own scans, select right kind of stocks, how to set up stops, when to enter , when to exit, how much to risk, how to track your trades and all other details about trading. You will learn about developing your own methods and not relying on others for trade ideas.

The site has hundreds of videos and trading methods and variation of methods. Members help each other in developing the methods and share actively their research and finding. A collaborative spirit allows you to get input from others on your trading ideas or problems.

The site gives you opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different background and experience willing to help each other. The emphasis is on continuous learning and up gradation of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors and new traders.

If you are looking to develop your own trading strategy the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on members site. Every method, every scan, every nuance is detailed and all possible help is offered to design your own method.

Do you have a trial?

If you are just looking for trial you are better off trying thousands of other trading sites that offer free trial or one month trial and offer you promise of riches.

It is for those who are ready beyond the trial phase and ready to put serious months or years of efforts to learn to trade on their own. It is for those who want to learn to find their own fish.

The free blog has all the details about the methods I trade and if you go through the posts highlighted in the sidebar you will learn about them.

How can I become a member?

To sign up go to www.stockbee.biz and follow the sign up process. The site uses Paypal for payment processing.

3 comments:

I really have to say many thanks to you Pradeep. Your blog has helped me to turn the corner and to become consistently profitable for the first time in three years of trading. Many thanks. I will soon become a member to further enhance my development as soon as I get a pay pal account!

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge theStockbee Member site might help you.

Members tell me they have tried lot of things before coming to my site and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant twits self promoting the site and no tall claims, every member comes through word of mouth recommendations from existing members.

As a member you will learn the basics of swing trading, momentum investing, growth investing and risk management.

You will learn how to setup your own scans, how to select right kind of stocks, how to setup stops, when to enter , when to exit, how much to risk, how to track your trades and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method you will have life long profitable method.The site gives you opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different background and experience willing to help each other. Members have shared their methods, scans, software, backtests and market insights.

Everyday the emphasis is on continuous learning and up gradation of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors and new traders.You will see that many trading bloggers have been using my market timing methods and scans and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because everyday they learn so much from the members site.If you are looking to develop your own trading strategy the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on members site. Every method, every scan, every nuance is detailed and all possible help is offered to design your own method.

Every trade I take is documented with position sizing so that you can learn how in real time these strategies are implemented. Several other members also share their trades. If you are just looking for stock picks, the members site is not for you. It is about learning to find your own fish.

If you are serious about your trading and want to build an enduring edge theStockbee Member site might help you.